Entries Tagged 'saving money' ↓

It’s not possible to save 100% of your money. You have to live. But it helps to have something for the rainy day. Parents should teach their teenage children this habit early on. The best way for a teenager to develop a healthy saving habit is to regularly do this.

1. Save before spending. The minute a teenager gets money, it could be from allowance of a part-time job, teach him to take out a portion of what would go to his savings before entirely spending it on what he wants.

2. Negotiate with the parents. This may work for the parent, maybe not, but you might as well try. Encourage your children to do this good saving habit and make a deal like for every $25 dollars they save, you’ll add $25.

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The Internet has definitely maximized the way it can be used practically. Among all benefits, convenience seems to be the number reason why many people have opted to do transactions in the Internet. But as time passes by, saving money has been a current issue in the Internet. With the growth of various online functions, the virtual world is gradually making a name when people talk about saving, cutback, and discounts.

One of the fastest and most recognized services that the Internet can offer is online banking. This particular bank service has significantly created a new world of convenience for bank depositors.

Online banking has many advantages. Among them is the way it can let you save money when paying your utility bill online. Through this, you can spare your money for your fare or gas because you do not have to go to your nearest bank just to deposit money for the payment or go to the office where you will pay your utility bill.

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In my country, changing your job title can help you save money on paying community tax certificate.

Now here’s another way that one can save money by changing his or her job title.

The results showed that if a 32-year-old married male, living in Glasgow and driving a Fiat Brava, listed his occupation as ‘newspaper reporter’, he would pay £376.22, but if he described himself instead as a ‘journalist’ or ‘correspondent’, his premium would drop nearly £100 to £282.45.

The same man, listed as a barrister would pay £459, but changing his job title to lawyer could save a pretty packet, lowering the cost by 22% to £376.22.

It is also cheaper to be a bricklayer rather than a builder and publicans pay less than landlords.

“Insurance premiums are influenced by a host of factors ranging from the number of miles you drive per year through to your job title. Adjusting the way you describe your job can have a surprising impact on premiums, “explains Debra Williams, Managing Director of Confused.com.

“The reason for this lies in the fact that insurers essentially keep a record of claims history against specific job titles, “she continued. “It may be a quirk of the statistics, but if an insurer finds a glut of claims associated with a specific job title, anyone with that title is likely to be penalised with higher premiums.

“This is why it is vital to shop around so that you get a range of prices from different insurers, many of which will have a different claims experience from their rivals.”

via FairInvestment

Tags: car insurance, job title

One of the usual maintenance costs that usually leave us with no choice but to dip on our emergency funds is car repair services. The average car repair cost depends on the model of a car, what part of it needs to be repaired, where you will have it repaired or where you are from.

Of course, if it will be the major parts where hundreds of things need to be done or if you will choose to get your auto repaired on car clinics that will give spa salons a run for their money like Likis Car Clinic where there is a large flat-screen TV, WiFi Internet and Starbucks coffee, you can expect your auto repair cost to spike.

1. Check Your Car’s Average Cost Repair Online

Now if you would like to get an estimate of the average cost of your car’s repair online, Choice.com lets you do that.

However, if you are going somewhere there’s not much that not-so-needed luxury, you can expect the costs to go down.

2. Research on What to Expect from Your Car’s Performance in the Long Run

If you weren’t able to research on your car’s longevity because doing your homework will arm you information that a car seller won’t tell you such as this Prius hybrid issue, especially if you bought a used car, you are left with some of the following tips to avoid being overcharged.

3. Be a Car Repair Expert

Know as much as your brain can absorb about your car and troubleshooting it. It’s one of the best way to save money on car repair services because you don’t have to only rely on the mechanics judgement of your car’s damage. You knowing what needs to be replaced and fixed is a lot better than groping in the dark and always saying amen to whatever purchase or fee your mechanic will tell you to pay for, right? Autopedia.com is a good source of car tips. Free auto repair ebooks can be found here, If you prefer to listen on information in stead of reading, here’s an auto repair advice podcast.

4. Get Free Car Repair Advice

Exhaust all your free resources, I mean, if you can get a free car repair with the help of a friend, your husband, father, car geek of a brother or your neighbor who happens to be a mechanic - do so. List all of the people that you think can help you with your car. One tip I gathered from BetterBudgeting to avoid expensive car repair fees is to check out a phone directory and writing down all the nearest automotive vocational schools’ number and call all of those schools to take note of the auto mechanic instructors to get some advice. This is not an advice telling you to become a freeloader - it’s ok if you are a self-confessed one ;-D, it is a must to learn a thing or two from car experts about the extent of damage on your car to avoid getting paying for unnecessary repair expenses.

5. Avoid Getting Fined from NOT Reading the Fine Print

If you ask for an estimate of the car repair costs, read the fine print before signing on the dotted line. This is an old problem that still gets to victimize lazy or distracted car owners every now and then.

6. Let a Person Who Knows about Car Repairs Tag Along

When you go to a car repair shop, don’t go there alone, especially if you are a woman. Not unless you REALLY do know what needs to be fixed and you can assert yourself well. There are mechanics that harass people who don’t know much about cars making them pay for undone jobs or unnecessary expenses. To make sure that you get the best service, check if the car repair shop is ASE-certified, which is a seal of approval from the National Institute for Automotive Service Excellence, a nonprofit org).

Keep a record of your repair trips to the car shop and whatever’s done so you can always go back to your notes if ever any new problem arise. These tips should help you less worrisome whenever your car needs to get some TLC.

[image from iks-ypsilon, zdotn, ahhyeah]

The ways to save money on utility bills are endless so the moment you think you’ve saved as much as possible is also the moment you’re losing an opportunity to save more.

1. Post Reminders
Just because all the members of your home are aware of the need to save money on utility bills doesn’t mean that they’ll know how to do so much less remember to do it all the time. It also doesn’t mean that they don’t care, but since they’re not the ones managing the budget, saving money on utility bills will definitely not be their first priority.

2. All about Control
As much as possible, purchase and use lighting fixtures, electrical appliances, and any other object which uses electricity as a source of power that offers you manual control for its settings. Today’s newest batch of television sets, for instance, allows you to manually configure video and audio settings so you can reduce electricity consumption. The same can be said for light dimmers and even water heaters with temperature control.

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If you are looking for a list of high yield savings accounts, eMoneyCentral has a frequently updated list. High yield savings accounts are the best if you are looking for an account that will earn you most interest over time. Emergency funds and down payment savings are best placed in these bank accounts.

As of this writing, here are on the top 10 in the list of high yield savings accounts which includes money market accounts provided by eMoneyCentral:

1. Everbank Yield Pledge Money Market (3 month introductory promo) has an APY of 6.01% and a balance requirement of $1.00 - $50,000 to obtain APY.

2. FNBO Direct Online Savings account has an APY of 6.00% and a balance requirement of $1.00 to obtain APY.

3. Gloucester County Federal Savings GCF CyberSaver has a 90-day promo of 5.50% APY and a balance requirement of $100+ to obtain APY.

4. Countrywide Bank Savingslink has an APY of 5.40% and a balance requirement of $50,000 - $2,499,999 to obtain APY.

5. AmTrust Direct e-Money Market has an APY of 5.36% with a balance requirement of $1.00 to obtain APY.

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June is the month for you know what? The month for wedding-related businesses to blow up their rates.

How would you be able to make your wedding most remembered and special to all those who attended it, especially you the to-be-weds?

There many ways on how you would make your wedding memorable to you and your guest and that is by planning everything and every detail of the wedding ahead of time.

Some couples who are too busy to prepare their own weddings resort to wedding planners. Weddings planners are coordinators who prepare the details of the wedding for the couple going be wed for a fee. The fee would depend on the kind of wedding package chosen by the couple. There was actually a movie with Jennifer Lopez on this, although the movie showed only a few details on how the work was done. But should you wish to know something about wedding planners and have time to watch the movie, it could be a useful material before you decide to go to the real ones.

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You finally decided that it is about time to get a house. You have your dream house in mind but you don’t know how you’re going to buy it. You don’t know if you have the financial capacity to purchase a house of your own. You are suddenly overwhelmed with the things to do.

Sure, it is difficult to buy a house. But there are steps you can follow so that making that move becomes manageable in smaller steps. One of the most important part of making buying a home a rewarding endeavor is preparing your finances, which include saving for a downpayment.

To start saving for a down payment, it is important that you set a goal. You can do this better if you consult your realtor to discuss honestly and realistically your expectations and budget. Stay within your budget and determine how much cash you need for the initial payment.

Write to Start to Save for Down Payment the Right Way

Get a piece of paper and start jotting down all the incoming and outgoing cash within a month in two separate columns. It would be good to itemize all your expenses - car payment, rent, food, clothing, entertainment, gifts, etc. Do this for a couple of months to see the actual cash flow. This way, you see the expenses that you can cut down on.

You’ll be amazed at how much you will save once you actually see in paper the unnecessary things you’ve been spending on. Tightening your belt will allow you to save more cash. You should be able to allot a regular amount from your incoming cash for your down payment.

Keep Your Down Payment Savings Secure

Open a bank account, most preferably a high yield savings account, especially for your down payment. Having a fixed amount transferred to this account automatically leaves you with no choice but to save. Now you are sure that it would be harder for you to spend it for something else than when it’s somewhere too accessible.

How Much Down Payment to Save for a House

You should be able to save up to at least 20% of the amount of the house you are buying for the down payment. This is actually an amount determined by lenders because, based on surveys, home buyers are most likely to push through with the purchase if they have already put up at least 20% of the amount. Having a bigger down payment also means lower interest rates and bigger savings.

But if the mortgage is insured, you can pay a home down payment of as little as 3 to 5 percent of the purchase price. Low down payment mortgages now abound. You just have to meet all the requirements of a low down payment home loan.

[image from lisette lawrie]

Online savings accounts are one of the newest trends in the world of finance, and it’s something you can get involved with fairly easily as well if you value financial management. The important question to answer, however, is whether it’s in your best interests to do so or not.

Pros of Opening an Online Savings Account
Before clicking OK to complete your online savings account application, make sure you weigh in the following factors to know if you’re really making the best decision in your case.

PRO: Online savings accounts are more convenient.
Conventional savings accounts can’t be accessed 24/7 like online savings accounts. And even if there is an online feature provided for them, they’re not as broad as those offered by 100% online savings accounts.

Online savings accounts also allow you to pay for your bills through the Internet provided that those companies offer the same option. With an online savings account, you can make sure you’re paying for your telephone and utility, credit cards, and other regular bills on time.

CON: Online savings accounts mean greater risks.
Of course, the convenience you’re intent on enjoying comes with a price, and that’s banking safety. Online saving accounts are also vulnerable to hacking and identity fraud just like all other online payments and transactions. Banks are, however, doing their best to increase the safety, security, and protection for their members.

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This money saving, er, extra income searching challenge is halfway done since I’m reporting its 4th week results.

The money I was able to save this week will come from an old *AdBrite account where I found I haven’t opted to get paid yet. I gained two new advertisers on one of my blogs via *Text-Link-Ads, making me earn an extra few dollars this month.

From May 1 to this date, May 28, here’s how I fared compared to last week’s results:

Target = $500

Windfall = $36 (no change)

ReviewMe = $40 (+$15)

Temp Blogging = $45 (no change)

*Text-Link-Ads = $54.24 (+$25.12)

AdBrite = $14.85

Balance = $309.91 (-39.97)